My fellow Canadians - do you use e-transfer?

E-transfer is great, I am at this moment waiting for a payment to come through from a client in Amsterdam right now.

is this an etransfer ad? wtf?


yeah this forum is about getting AWAY from digital tracking

what a sad joke

I have never heard of Americans using e-transfer.

I remember during the Freedom Trucker Convoy, lots of people were wanting to send donations to the truckers. So the protestors or the youtubers covering it would give out an email to send e-transfers to, and the Americans watching the stream were like "WTF is an e-transfer? Do you have a Paypal?"

Some people were getting donations through Paypal and then the government made Paypal shut down the donations and Paypal kept all the money people donated to the protestors.

E-transfers are very handy, but I think they are just a Canadian thing, I have never seen American online stores offer an e-transfer option, only online stores located in Canada have e-transfer.

Justin? are you testing to pull the accounts

I only use it to fund my crypto exchange, and also to pay my online supplier of CBD oil since they are not an offical "licensed producer" of cannabis and can't take CC payments.

Ah I always wondered about whether this works outside of Canada - so far my only clients outside of Canada were in the US and they didn't use it.

The reason why I'm wondering about this is because there's all this controversy around going cashless, digital currency etc and it kind of feels like e-transfer is already like that...

Well, the guy who sent me the coin is a Canadian on holidays in Amsterdam since last Friday, so he has a Canadian banking card.
Don’t know if the Dutch can use e-transfer.

Yes it's nice & fast, I remember when it used to take hours for transaction to go through

Buying/selling used stuff people usually use e-transfer

I use it for buying things that are sold by someone second hand or illegal. Other than that, I hear it’s good for used cars.

They have the ability to audit it to prevent abuse.

I mean this isn't anonymous banking... the bank knows who you are, where your money is coming/going, and they can freeze it. If the bank sees a certain amount coming in, they have to flag it and notify CRA. The only people still adamant about exchanging cash on the street are people buying drugs..?

We've basically been a cashless society / treating money as digital for years already...
Canadians are complaining that PayPal or GoFundMe is freezing accounts... and of course banks can.

I'm trying to understand what's the better alternative supposed to be and look like...? Walking around with bags of gold?

You cannot e-transfer across the border. It doesn't work and the banks aren't linked.

E-transfer is great..

Only problem with it unfortunately, is if you are using it to buy things off Kijiji or Marketplace. If someone has auto deposit on and you send them $$ only to find later that it was a fraud the bank will not cover your loss, if you select adding the person as 'friend or family', which most people do.

If you use a credit card and you find out it is fraud, the CC company more than likely will flag it as fraud and try to recoup your lost funds.

That's true, but that happened to a friend of mine except he paid cash and then found out he got a lesser model iPhone than promised, and couldn't track the guy down. Buyer beware!

I haven't had any e-transfer fraud yet, knock on wood, but certainly I've seen wacky transactions every now and then on my credit card, there was never any loss.

Is this so bad?





Playing devils advocate... India is already doing it, I dunno this is sounding like the future to me...

If someone said a worldwide digital currency worked like this... I'd have trouble seeing the downside.

The Internet is a mass sensor web.

98% of what you call the money supply exists as electromagnetic polarity differentials on hard disk platters.

In the USA that means there is around 2 Trillion or so Federal reserve banknotes in circulation and around 100 Trillion in digital currency in circulation.

Lawful money according to the Constitution is US Dollar coins and they are made out of metal

You can convert the digital currency into real money by demanding US Dollar coins.

Yes in behind bitcoin propping it up is the US Dollar coin.

Derivatives.

Bitcoin is a derivative of the US Dollar and the and the US Dollar is a derivative of food.

Food powers money.

When you can not feed the blackhole with matter to supply money with power.

The money becomes powerless.

Like Bits.

1 and 0

If Food = 0 then Money = 0

If Food = 1 then Money = 1

The US money supply is micro since the 2% comprised of banknotes is not money.

Federal reserve banknotes are derivatives of money.

So you have a system where bitcoin is a derivative of Banknotes which are a derivative of Money which you all believe exists but does not since most of it circulates as electrical potentials or digital bits.

It has been like this in the USA and globally for decades now.